Added to YB: 2025-02-20
Pitch date: 2025-02-19
NLOP [bullish]
Net Lease Office Properties
-4.42%
current return
Author Info
No bio for this author
Company Info
Net Lease Office Properties (NYSE: NLOP) is a publicly traded real estate investment trust with a portfolio of 37 high-quality office properties, totaling approximately 5.
Market Cap
$293.3M
Pitch Price
$13.73
Price Target
40.00 (+205%)
Dividend
N/A
EV/EBITDA
3.11
P/E
-1.62
EV/Sales
2.64
Sector
Office REITs
Category
value
Investment Thesis for Net Lease Office Properties (NLOP): Capitalizing on Momentum and NAV Convergence
NLOP: Trading at 45% discount to $60-$65 NAV. $46 analyst PT (39% upside). 42 properties, Class A assets. $850M sales at 6.2% cap rate. 15% rent bumps. LTV 48%. $2.75-$3.25 special dividend by Q3 2025. 68% investment-grade tenants. 21% upside to $40 PT in 12mo. 15-20% IRR. Takeover potential.
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